Zuckerberg announced!
Zuckerberg announced!
Meta to lay off 10 thousand more people
Meta, the owner of Facebook, Instagram and WhatsApp, announced that it will lay off 10 thousand people. “I think we should prepare ourselves for the possibility that this new economic reality will continue for many years to come,” said Mark Zuckerberg.
Meta CEO Mark Zuckerberg stated that the cuts will be difficult and are part of the productivity year, and that they will close about 5,000 open positions that have not yet been hired.
Stating that these cuts will be made to improve the financial performance of the company, Zuckerberg stated that some of the factors affecting Meta are high interest rates in the USA, global geopolitical instability and increasing regulations.
“I think we should prepare ourselves for the possibility that this new economic reality will continue for many years to come,” Zuckerberg said.
Stating that layoffs and restructuring may last until the end of the year, Zuckerberg said that there will be no new hires until the restructuring is completed.
META MADE MORE THAN $23 BILLION OF PROFIT LAST YEAR
On the other hand, while technology giants such as Amazon and Google have announced a large number of layoffs, more than 128,000 people have been laid off in the technology sector so far this year, according to layoffs.fyi, which tracks job losses in the technology sector.